Wall Street Opens Lower After Jobs Disappointment; Dow Down 120 Pts By Investing.com

© Reuters.

By Geoffrey Smith 

Investing.com — U.S. stock markets opened slightly lower on Friday in response to a hugely disappointing labor market report for August, which showed job creation at its slowest rate in six months. 

The Labor Department said nonfarm payrolls expanded by only 235,000 through the middle of the month, missing consensus forecasts by over half a million. The upward revision of July’s data to show an extra 100,000 jobs gained was scant consolation.

By 9:40 AM ET (1340 GMT), the was down 123 points, or 0.3%, at 35,323 points. The was up 0.2% and the was down 0.1%. The latter two indices are still on course for yet another weekly gain, however.

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